#3)	At the beginning of 2016, Dianne Chelsey had the following loss carry forwards available:

Restricted Farm Losses	$7,200
Non-Capital Losses	41,000
Net Capital Losses From 2010 [(1/2)($50,000)]	25,000

Dianne Chelsey farms part-time and is subject to Section 31 of the Income Tax Act. She would like to reduce the Net Capital Loss from 2010 as quickly as possible.

The following information is available:

	2016	2017
Taxable Capital Gains (ACL)	$21,000	($8,000)
Business Income (Loss)	-15,000	14,200
Employment Income	4,000	61,000
Farm Income (Loss)	2,950	-7,500
Rental Income (Loss)	-20,000	15,000

REQUIRED:

1.	Determine Diannes Net Income for Tax Purposes, as well as her minimum Taxable Income for 2016 and 2017. Use Section 3 format for the calculation of net income. Use carry overs in the following order:
	Restricted Farm Losses
	Net Capital Losses
	Non-Capital Losses

Note: For the purposes of your calculations, ignore any non-refundable tax credits Dianne Chelsey may have.

2.	Indicate the amount and type of any losses available for carry forward at the end of the 2017 year.